Pal Zileri to Be Acquired by Qatar's Mayhoola

Mayhoola Investment from Qatar, which last year bought Valentino, is -according to Italian financial sources- to be in an advanced negotiation for the purchase of a 65% stake in the luxury menswear house of Pal Zileri, which is privately owned by Gruppo Forall Confezioni S.P.A. The group, which is currently controlled by an aggregation of Italian entrepreneurs and the Egyptian Arafa Holding, has reported a turnover closing of 150 million in 2012, and it has been looking for a strategic partner since 2008 for retail expansion plans.